Learn more about Shadow Directors Brisbane, Gold Coast, Sydney and Melbourne with Safeguard Insolvency. A shadow director is a holder of a private firm/company who is not the director and does not participate in the operation of the company.
DUTIES OF SHADOW DIRECTORS – Your Brisbane based Experts
Employees and directors comply with their instructions which can help streamline company process.
An important fact to note is that they by law are a de facto director and they are held equally liable for obligations of the company, as are other directors.
Shadow Directors have the following duties:
Prevent insolvent trading
Practice care and skill
Act in the best interest of the company (good faith)
Practice their power as a director for a proper purpose
They have a duty not to gain advantage for themselves, someone else, or cause detriment to the company by incorrect use of their place; and
Release any material or personal interest that they may have in a matter, that relates to company affairs.
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